"It is no secret that the rollout of the new Free Application for Federal Student Aid is going poorly. Delays, mistakes, and confusion reign as the Department of Education implements the FAFSA Simplification Act. Some of this is due to errors, and some is due to an underfunded and overworked department," Forbes reports.

..."The Department of Education should limit the number of students it selects for FAFSA verification.

Verification is an audit process that millions of applicants must go through every year. It’s complicated for students and colleges’ financial aid offices, takes enormous amounts of time, and, research shows, is not very effective. In fact, research from the National Association of Financial Aid Administrators suggests that reducing verifications, and making the selections more targeted is more effective than verifying larger numbers of students.

Most of the verification burden falls on low-income students, who tend to have the least support navigating the financial aid process. During the pandemic, the Department of Education limited the number of students selected for verification and did so without seeing an increase in the number of incorrect payments for federal aid issued."

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

Publication Date: 2/5/2024